Entrepreneurship

By An Aspiring Entrepreneur
(Gaurav Manchanda)
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 ENTREPRENEURSHIP :
“Most of what you hear about
entrepreneurship is all wrong. It’s not
magic; it’s not mysterious; and it has
nothing to do with genes. It’s a discipline
and, like any discipline, it can be learned.”
Peter F. Drucker

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 CHARACTERISTICS OF
SUCCESSFUL ENTREPRENEURS

 PASSIONATELY SEEK NEW OPPORTUNITIES

 PURSUE OPPORTUNITIES WITH ENORMOUS

DISCIPLINE

 PURSUE ONLY THE BEST OPPORTUNITIES

 ADAPTIVE EXECUTION

 SYNERGY
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80%
72%
70%

60%

50%

40% Best things about

owning a business
30%

20% Control Others

10% 10% 8%
10% Survey by Padgett Business
Services USA Inc.
0%
Independence Satisfaction

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 Types of Skills Required in Entrepreneurship
Technical Business Personal
Management
Writing Planning Inner Control

Oral Leadership Risk Taking

Communication

Monitoring the Interpersonal Innovative

Environment

Using Technology Marketing Change-oriented

(Selling) visionary
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 Entrepreneur Process
Diagram
Using
Finding the
networks
required
extensively
resources

Financial,
Motivation Spotting & Overcoming Controlling Social,
to make a Exploiting Obstacles the Aesthetic
difference Opportunities Business Capital

Showing
determination Managing
in the face of Risk
adversity

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 Entrepreneurship
Process
The The Opportunity Spotter The Project Champion
Inventor

Exploiting the
Engaging opportunity
The Idea Realizing the the idea & to build
opportunity opportunity something of
value

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 Three Aspects of
Entrepreneurship
• 1. The identification/recognition of
market opportunity and the
generation of a business idea
(product or service) to address the
opportunity

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 Three Aspects of
Entrepreneurship
• 2. The marshalling and commitment
of resources in the face of risk to
pursue the opportunity

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 Three Aspects of
Entrepreneurship
• 3. The creation of an operating
business organization to implement
the opportunity-motivated business
idea

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India's PEOPLE –
ITS STRONGEST ASSET
Based on IMD World Competitiveness Survey

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A large pool of skilled people... ...with high end qualifications... ...and extremely cost efficient

Availability of skilled labour, 2003 Availability of qualified engineers, Total compensation for
2003 manufacturing workers, 2002

USA 7.3 India 8.9 Germany 24.1

India 7.2 USA 7.3 USA 20.3

Germany 7.1 Russia 7.2 Brazil 2.4

Russia 6.2 Brazil 7.1 Mexico 2.3

Brazil 5.5 Germany 6.9 Russia 0.7

Mexico 5.3 Mexico 6.4 China 0.6

China 4.3 China 3.9 India 0.4

Note: Survey results: 1=low; 10 = high

Source: IMD world competitiveness Yearbook 2003 12
CONFIDENCE: INDIA
INC. GOING GLOBAL
Overseas Acquisitions by India Inc ($ US Million)
12000

10000

8000

6000

4000

2000

0
2002 2003 2004 2005 2006
Source: Literature Review
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A snapshot of Indians at the helm of leading Global
businesses
The Co-founder of Sun Microsystems (Vinod Khosla),
Creator of Pentium Chip (Vinod Dahm),
Founder and creator of Hotmail (Sabeer Bhatia),
Chief Executive of McKinsey & Co. (Rajat Gupta)
President and CFO of Pepsi Cola (Indra Nooyi)
President of United Airlines (Rono Dutta)
GM of Hewlett Packard (Rajiv Gupta)
President and CEO of US Airways (Rakesh Gangwal)
Chief Executive of CitiBank (Victor Menezes),
Chief Executives of Standard Chartered Bank (Rana Talwar)
Chief Executive officer of Vodafone (Arun Sarin)
President of AT & T-Bell Labs (Arun Netravali)
Vice-Chairman and founder of Juniper Networks (Pradeep Sindhu)
Founder of Bose Audio (Amar Bose)
Founder, chip designer Cirrus Logic (Suhas Patil )
Chairman and CEO of Computer Associates (Sanjay Kumar)
Head of (HPC WorldWide) of Unilever Plc. (Keki Dadiseth)
Chief Executive Officer of HSBC (Aman Mehta)
Director and member of Executive Board of Goldman Sachs (Girish Reddy)
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Chief Economist of the International Monetary Fund (Raghuram Rajan
 Entrepreneurship

• Some advantages
– You are your own boss
– Enjoy the profits from your
efforts
– Sense of pride in your business
– Flexibility in your work
schedule
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 Entrepreneurship

• Some disadvantages
– Will need to put in long hours
– Need money to start
– Have to keep up with government rules
and regulations
– May have to mark hard decisions (hiring,
firing, etc.)
– May lose money
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 Checklist for Aspiring
Entrepreneurs
• Do it for passion not money
• Do something you know about
• Don’t give up too early
• Have a mentor
• Have appropriate funding
• Be a good cash manager
• Build sales first
• Don’t try to rush
• Be wary of bad advice or suppliers
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Questions & Answers ???

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Thank You

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